Before starting a salary negotiation with an employer, it is important to know how much the job is worth. Many people take time to search for information about salaries to accept a realistic and reasonable job offer.
During an interview, the employer can ask about the salary requirements of the interviewee, and he or she can answer that these are open based on the job position or overall compensation package. Another possible response is to know about the responsibilities and challenges prior to discussing the salary.
The interviewees can say the employer a salary range based upon research of salaries in the region or salaries of its specific career. Once the employer makes an offer, the interviewee does not need to accept or reject, a perfect answer could be: “I need to think about it” in some cases it can increase the original offer; however, there is a little risk that employer declines its position and thinks on another candidate but the majority of employers are willing to negotiate.
Keep in mind, negotiating a salary offer can reconfirm the employer the decision to hire a possible candidate over others is the right choice, but it is so important to know some other reasons to negotiate a salary:
- Education and experience are worth more than the offered payment.
- The salary range for the job position is less than the salary average.
- The offered salary does not cover the cost of living in the area.
Before an interview, you must research the average salary of your profession. Look up salary surveys online, ask friends and colleagues and consider how much money you need to live on each month. All these aspects can help you to determine your average salary and if you feel that the salary offer does not cover your expectations, you can start a salary negotiation to improve some elements of the employment package such as basic salary, benefits, work hours, and days off. You can use a salary calculator to calculate your potential salary based on your job title, location, education, and experience level.
Guidelines to make a salary negotiation
- Wait for the employer to make the first offer: this offer should be within your salary range; otherwise you can indicate that is below your expectations according to preview research. Be objective, positive, and courteous to make a new offer that meets your needs.
- Negotiating salary is not the only area: if the salary is non-negotiable from the start, you can negotiate other options, such as bonuses, salary reviews, life and disability insurance, retirement or pension plans, etc.
- Know when to say the right answer: if the employer feels frustrated with your proposals, stop and evaluate the situation because there is a point when your expectations are being met, and the employer makes the final offer, be prepared to make a final decision; otherwise you will appear greedy and the offered salary may fall off.
The final offer
- One or two days is an acceptable time to evaluate the total compensation package and ensure your duties, responsibilities, and expectations.
- After both parties have confirmed the offer verbally, get a copy in writing, and do not forget to send a thank you letter.
Tips for negotiating salary
Negotiation of salary can be intimidating and difficult to discuss it in a productive manner, but if you want to earn what you are worth, you must learn how to do it because there are important things to discuss before accepting a salary offer so the interviewer must recognize that you require a salary to satisfy your ability and qualifications. The below tips are applied anywhere in the world. Labor laws guaranteeing long-term employment can be used in your negotiations.
- Establish an absolute salary range and be prepared to walk away if necessary.
- Research if the new company is growing and optimistic.
- Highlight your experience to negotiate a higher salary.
- Explain your salary history to justify the deserved salary.
- Review recent salary surveys and talk with professionals in your field.
- Anticipate any objections from the employer and justify your cost-effectiveness.
- Demonstrate your knowledge about the salary range within the local market of your profession.
- Discuss the salaries in your field.
- Include a list of contributions that defend the salary you are requesting.
- Make a realistic salary offer if you do not have enough experience.
- Include other types of compensation.
- Be grounded on objective criteria to make your offers.
- Avoid commenting on how much money your friends earn in other fields or making comparisons with other companies in the same field.
- Do not talk about the amount of money you need for your bills, your house, or the education of your children.
- Do not appear eager or desperate for the job.
- Does not fudge your salary history because interviewers can look into.
Finally, salary negotiation is an essential part of a successful job search and if you can apply the guidelines and tips described here, you can negotiate an attractive job offer for that reason not forget to respond to the first offer with “I need to think it” and remember that you are worth the salary that you for your additional qualities.